Ryan Specialty
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The MGA platform will become part of Ryan Specialty Underwriting Managers. -
Management is showcasing its ambition, but it’s also dialing up risk.
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The wholesaler also paid $11.7mn in cash to Alera for the acquisition of Greenhill Underwriting.
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Rate deceleration in property cat increased in September, and property pricing overall was down in Q3.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The sale is expected to close next month, though terms are not yet final.
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This follows a spate of program manager deals Ryan Specialty has made.
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The binding authority market is also “ripe” for consolidation, the CEO said.
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With the move, RT adds a CEO to its binding authority and a CEO to its RT ProExec businesses.
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Ethos’ transactional liability MGU is not included in the deal.
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The executive previously spent over 11 years at Captive Resources.
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